Before comparing spreads or looking for a strategy, make sure the basics are covered: who holds your money, what rules apply to the account, and what could go wrong. A few checks up front can help you avoid problems that have nothing to do with whether your market view was right.
Check who you are dealing with
Find the broker’s full legal entity name in the account agreement, not just the brand on the homepage. Search the relevant regulator’s official register and compare the name, website domain, contact details and permissions. A real firm’s licence number can be copied by an unrelated website, so a matching number alone is not enough.
Secure the account and your devices
Use a unique password, enable multi-factor authentication and keep your email account secure. Download trading software from the provider or platform developer’s official site. Do not give remote access, one-time codes or wallet recovery phrases to someone claiming to be support.
Understand what the product can do to your balance
Leverage magnifies exposure, not your ability to predict a market. Read the margin rules, liquidation policy, overnight financing and any negative-balance protections that apply to your exact entity and country. A stop order can help manage an exit but may not fill at the requested price during a fast market or price gap.
Make a plan before placing an order
Decide in advance what would invalidate the trade, how much you can afford to lose and when you will stop trading for the day. Avoid increasing size to recover a loss. Keep a record of the reason for each trade and review the process rather than judging a decision only by its outcome.
What to do if something looks wrong
Pause deposits, save messages and transaction records, and contact your bank or payment provider through its official channels if money may be at risk. Report suspected misconduct to the relevant regulator. Be cautious of recovery services that demand an upfront fee or promise guaranteed results.
Before you start: quick checklist
- The legal entity and website match the regulator’s record.
- You understand fees, leverage, margin and withdrawal terms.
- Your login and email are protected with strong authentication.
- You have a written risk limit and money for essential expenses is not at risk.
- You know where to report a complaint.
This guide is educational information, not personal financial or legal advice.
